Trainline warns it could breach loan covenant

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By Mike Turner
06 Nov 2020

Trainline, the UK train ticket booking company, has warned that there is a risk of a covenant breach on its £350m revolving credit facility, despite lenders already agreeing not to test the covenant until August 2021.

Trainline said in its six monthly results, issued on Thursday, that “while a covenant breach is not considered likely, given the uncertainty of the current operating environment it should be considered a possible risk”.

The covenant requires the company to keep net debt below 3.75 times Ebitda for the ...

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